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How to withdraw money from Eightcap

Your expert
Bence András R.
Fact checked by
Adam N.
3w ago
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How can I withdraw money from Eightcap?

One of the most common fears about trading online is, can I get my money back? And even if that's a given, will I face any extra costs, delays or difficulties as I try to withdraw my uninvested funds?

Eightcap is a trustworthy broker that honors all withdrawal requests. The withdrawal experience is great overall, but read on to see if you'll face any costs or restrictions in the process.

Withdrawal at Eightcap is fast, with several transfer options available

Eightcap is one of many brokers I have tested throughout the years. I used my own money for trading - and then tried to get it back. Here's how it went:

  • No worries - Eightcap is a reliable broker that lets you access your funds any time.
  • There are several ways to withdraw your money, including bank transfers.
  • In most cases, you can get your money back within 1 day.
  • Eightcap charges $0 for basic withdrawals, but some methods may cost more.
  • Read our full review of Eightcap for detailed funding and trading conditions.

First, let's see if Eightcap is available in your country?

No, you can't open an account at Eightcap if you live in the United States!
the United States

Disclaimer: 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.

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You can withdraw funds from Eightcap any time

Let me start with the good news: Eightcap is considered a legit and trustworthy broker, where your money is in good hands, and you can withdraw it whenever you want to.

How to tell if a broker is trustworthy? In our view, a broker is considered legit if its operations are overseen by at least one top-tier regulator. At BrokerChooser, we only recommend such regulated brokers.

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74-89% of retail CFD accounts lose money

Unfortunately, the online trading industry is plagued by a large number of unregulated or scam brokers. Many of these simply refuse to return your money, or require outrageous percentage commissions before doing so. If you've heard about any broker that you're unsure about, check it against our scam broker list or discuss it in our Forum.

There are multiple ways to withdraw your money

So how to actually withdraw funds from Eightcap? At Eightcap, you have multiple options to choose from when you want to withdraw money. The most basic of these is bank transfer. This is a common option that is available at virtually all brokers, and Eightcap is no exception.

In addition to bank transfer, Eightcap also allows you to withdraw funds to a debit or credit card. Many brokers don't offer this option, so this is a definite plus for Eightcap.

You can also withdraw money to certain types of electronic wallets. This is a nice feature that isn't available at all brokers. At Eightcap, you can withdraw money to the following electronic wallets: Skrill, Neteller, PayPal, Wise, PayRetailers, fasapay, WorldPay, uPOP, BPay, POLi Payment

Bank transfer
Credit/debit card
Fusion Markets
Eightcap withdrawal options

Whatever methods you use, you may only withdraw money to bank accounts, cards or wallets that are in your name.

Withdrawing money from Eightcap - a step-by-step guide

How do you withdraw money from Eightcap?

  • Log in to your client dashboard.
  • Click on 'Deposit/Withdraw' in the menu on the left.
  • Click on the 'Withdraw' button.
  • Select the account to withdraw to (or add a 'New Bank Account').
  • Enter the amount, then click 'Request withdrawal'.

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It usually takes no more than 1-2 days to receive your funds

Whatever method you use, withdrawals from a brokerage account are rarely instant. That said, when I tested withdrawal at Eightcap, it took just one business day for the money to reach my account. That's about as good as it gets in this business!

Strict withdrawal times are not the only factor to keep in mind when you need to retrieve money from your broker account. The most important thing is that you can only withdraw uninvested cash from your brokerage account. If all of your funds are invested, you need to close some or all of your positions first to make the necessary amount of cash available in your broker account.

Converting your assets to cash often takes additional time. For example, if you sell a stock, it will take another day (or most likely two) for the transaction to settle and for the cash proceeds to appear in your brokerage account.

So what I would normally do is think ahead depending on how urgently I needed the money. For example, if I needed $1,000 cash on Monday and it was still all tied down in stocks or some other assets at Eightcap, I would probably

  • log in to my Eightcap account as much as a week earlier, to sell stocks or other assets worth $1,000 (or maybe a bit more to cover any withdrawal fees; see next chapter).
  • Then I would check back a day or two later (around the middle of the week) to see if the asset sale has been completed and if the cash has appeared in my broker account.
  • If yes, I would then initiate the withdrawal, so that the money arrives in my personal bank account or on my card (whichever applicable) by next Monday at the latest.

Basic withdrawals cost $0, but there may be exceptions

While depositing money to a brokerage account is free in most cases, this is not necessarily always true for withdrawals. But I have good news: basic withdrawal at Eightcap is free of charge. See the table below for details and possible exceptions, and also how Eightcap's fees compare to some of its immediate competitors.

Withdrawal fee
Domestic bank withdrawal
Fusion Markets
Eightcap withdrawal options and fees

Conversion fees

In addition to any withdrawal fees, you should also be aware of potential conversion fees. These usually apply if your bank account or card is denominated in a different currency than the funds you are withdrawing from your broker.

At Eightcap, the following account currencies are available: AUD, USD, EUR, GBP, NZD, CAD, SGD.

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Further reading

Author of this article

Bence András Rózsa
Bence András Rózsa

Bence is a former broker analyst for BrokerChooser. Having an MSc in international economy and finance, he focused on equities, cryptos and newcomer financial services. He also gained years of experience within the brokerage industry, specializing in stock and CFD/forex brokers, crypto providers and robo-advisors.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.

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